Gold industry suffers from unfair competition: The News

Tuesday, November 11, 2008
By our correspondent

KARACHI: Pakistan is the eighth biggest consumer of gold in the world and annually imports 127 tonnes of gold but unfortunately there is no consumer satisfaction and Pakistani jewellery industry suffers from unfair competition by those who use low-carat gold and therefore, sell at a lower price.

This was the crux of a seminar titled ‘latest trends in jewellery hallmarking’ organised by Pakistan Gems and Jewellery Development Company (PGJDC) at the Gems and Jewellery Training & Manufacturing Centre (GJTMC), in Saddar, Karachi.

It was further highlighted that non-existence of hallmarking causes loss of exports and less acceptability of products, both in the local and global markets. Addressing the audience, Project Director (PITMAEM), Pakistan Council of Scientific and Industrial Research, Dr Shahzad Alam said that in order to improve the quality of jewellery products, complete quality assessment and hallmarking of gold is imperative.

He informed that hallmarking refers to physically marking a piece of jewellery according to specific laws to certify the purity of the metal. Hallmarks are small markings stamped on gold, silver and platinum articles.

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